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Do This Before Selling Your House and Buying A Home

10 December 2015

Want to increase the equity in your home for sale? You need to take the emotion out of it and start thinking of it as an asset.

A transition in your mindset starts to take place when you begin the process of selling your home. You see your home not as a home, but as a financial asset, and the question becomes how do you get the most equity out of your house?

Hopefully this one piece of advice will make all your home selling decisions come into sharper perspective.

When selling a home, the biggest reason that a home doesn't sell at the best price on the market, or within a reasonable timeframe, or with equitable terms, is because this one simple decision isn't made by the seller(s).

Your first decision when you decide to sell your home is to separate yourself from the personal feelings you have about the house. Often when you talk with agents about buying real estate, they'll refer to your new property as a “home".  When you sell a property, you’ll find your property is more often referred to as a house.

This is because it is often the case that buying a home is often an emotional decision, while selling a house is a financial decision, one for which emotional detachment is needed. Potential home buyers don't care and don't want to know about the memories, or sentimental attachment you have in your home. In fact, the best way to sell your home is to make it seem like you don't live there.      

So when you decide to sell your home, you almost have to resolve to yourself that it’s no longer your ‘home’. When you think of your house as another financial transaction or as an investment, you think more clearly about all the decisions you need to make before you sign on the dotted line and hand it over to someone else.

Buyers on the other hand invest emotion into the purchase of their new home and it’s in your best financial interest to do everything possible to allow them to see your house as their new home.

The downside to not detaching yourself emotionally from selling your house is that the process becomes more difficult for you, and at times, unconsciously, you can either drive potential buyers away, reduce the  opportunity for all potential buyers to see your house or unintentionally create other situations that take it longer than needed to sell your house.

So, if we can help provide support and tips on maximising the opportunities to sell your house, and buy your new home, please give us a call. We’re always happy for a chat.